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GateHouse, Gannett to merge for $1.4B, build newspaper giant

Aug 05, 2019 - Associated Press Financial Wire
Mergers and Acquisitions

NEW YORK (AP) - Two of the largest U.S. newspaper companies have agreed to combine for roughly $1.4 billion, creating a new industry giant that hopes to manage the crisis of print's decline through sheer size.

GateHouse Media, a fast-growing chain backed by an investment firm, is buying USA Today owner Gannett, promising to speed up a digital transformation as readers shift online. The companies say they are committed to "journalistic excellence" - while also cutting $300 million in costs ...